Earnings season: Inogen, BioScrip, VieMed

GOLETA, Calif. - Inogen reported $95.3 million in total revenue for the third quarter of 2018, a 38% increase over the same period last year.

Net income was $16.4 million vs. $7.3 million.

“The third quarter was another successful quarter for us as we generated strong revenue across all three sales channels,” said CEO Scott Wilkinson. “We are continuing to execute on our strategy to hire additional sales reps and invest in advertising activities to increase consumer awareness as we believe this is still our most effective means to drive high revenue growth and POC adoption.”

Breaking down revenue, sales and rentals were $89.7 million (up 42.1%) vs. $5.6 million (down 5.3%), respectively.

Inogen has increased its full year 2018 guidance for total revenue to $345 million to $355 million, representing growth of 38.3% to 42.3% compared to 2017.

The company also provided full year 2019 guidance for total revenue of $430 million to $440 million, representing 22.9% to 25.7% growth compared to 2018 guidance mid-point of $350 million.

BioScrip 3Q revenues decrease

DENVER - BioScrip today reported third quarter revenues of $180.9 million, down from $198.7 million for the same period last year. Net loss from continuing operations was $8.1 million, a $5 million improvement. Adjusted EBITDA was $16.4 million, a 25% increase. “BioScrip achieved record third quarter adjusted EBITDA driven by revenue growth, higher gross profit margin, and ongoing operating expense discipline,” said Daniel Greenleaf, president and CEO. “We delivered comparable revenue growth for the first time since the fourth quarter of 2015.” The company increased its 2018 full year guidance to between $710 million and $720 million in revenue.

VieMed sees continued growth

LAFAYETTE, La. - VieMed reported revenues of $17.2 million for the third quarter of 2018, an increase of 38% compared to the same quarter in 2017. It's the third consecutive quarter the company has seen double-digit revenue growth. The company grew its ventilator patient count by approximately 35%. Gross margin was $13.1 million, and adjusted EBITDA was about $4.4 million. Casey Hoyt said the company and industry are experiencing “positive momentum” in the wake of its study with KPMG. “The runway is set for continued growth, which will allow us to bring our first-class care to many more patients in need across the country,” he said in a press release.